The LaRue County School Board voted Monday to keep the property tax rate at last year’s level.

Superintendent Sam Sanders recommended the board not take the compensating rate which could be levied without a hearing or recall (KRS 160.470). The compensating rate, when applied to current year’s property assessment, produces an amount equal to that produced in the preceding year, Sanders said.

The board could have levied as much as 4 percent over the amount of revenue produced by the compensating rate. The 4 percent levy could be added after a hearing but is not subject to recall.

“Because of the difficult economic times we are in presently, I believe we need to keep our taxes as low as possible,” Sanders said.

Tax rates were set as follows:

Real estate " 45.4 cents per $100 assessed value

Tangibles " 46.3 cents per $100 assessed value

Motor vehicles " 55.2 cents per $100 assessed value

Utility " 3 percent of receipts

The tax rate generated about $2.3 million last year and will pull in about $2.45 million, after the sheriff’s 4 percent collection fee is deducted, this year.

The compensating rate would have been 45.9 cents per assessed value for real estate and 46.7 cents for tangibles and produce an additional $26,430 in revenue.